Capital Gains Tax

HM Treasury written question – answered on 3rd November 2015.

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Photo of Jeremy Lefroy Jeremy Lefroy Conservative, Stafford

To ask Mr Chancellor of the Exchequer, what estimate he has made of the amount of capital gains tax forgone through providing entrepreneur's relief in (a) 2012-13, (b) 2013-14 and (c) 2014-15.

Photo of David Gauke David Gauke The Financial Secretary to the Treasury

Latest estimates of the cost of Entrepreneurs’ Relief, amount to £3.0bn for 2014-15, and £2.7bn for 2013-14. These can be found in table 1.5 (Main tax expenditures and structural reliefs) at https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/389539/20141231_expenditure_reliefs_v0.3.pdf

This publication does not include an estimate for 2012-13; the latest published estimate for 2012-13 is £2.1bn.

The estimated cost of this relief from capital gains tax does not represent the yield if this relief were to be abolished, as consequential behavioural effects would substantially reduce yield.

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